7 FEBRUARY 1846, Page 10



The English Funds have been as buoyant during the present as they were heavy during the past week; the amount laid out by the Chancery-broker ter the purpose of investing the Railway deposits having caused an advance of 3 per cent in most of the current varieties. These purchases, which began on Wednesday and have since continued without intermission, have been to the extent of about 1,000,0001. in Stock, and perhaps to about 200,000/. in Exchequer Bills. The purchases of today have been chiefly in the latter security; the price of which has not risen so much as that of the Funds, but upon which the premium has been forced up to the unusual height of 40*. It would appear from the mode adopted in carrying out the law respecting Railway deposits, that the cumbrous nature of the proceedings in the Court of Chancery has materially aggravated the difficulties in which the depositors are placed by the provisions of the law itself. Instead of making the investment of the money a matter of course, it would seem that practice requires a formal motion to be made in open court for the order to invest: in addition to the delay thus occasioned, publicity Is given to the fact that the Chancery-broker has so many hundred thousand pounds to lay out; and consequently, as has occurred on two occasions this week, the appearance of that gentleman in the market has caused an instantaneous advance of 1 per cent in the price of Stock, and a corresponding rise in the premium of Exchequer Bills. The conduct of the Bank has been the subject of remark; and it has been complained that the Directors have not afforded the facilities that might have been expected. It is, however, the opinion of most men of business, that, short of undertaking the whole management of the deposits, they have afforded every facility that was proper. During the pressure of Stock upon the market, occasioned by the recent sales, they were liberal in their ad- vances upon Stock, and thus gave it a very efficient support. Money is abundant in the Stock Exchange' but still continues scarce in the discount-market.

In the Foreign Stock Market the business has not been important, and prices are without material change.

The better class of Railway Shares are at an advance varying from IL to 31.; but the transactions have not been remarkable. The determination of the Go.. vernment in the respect of the new schemes has giveu an impulse to some of the Scrip Shares, especially the Irish ones; and there is a slight demand for Scrip generally today. The division of labour between the two Houses of Parliament meets general approbation; as indeed must any measure that gives a fair chance of enabling the Legislature to dispose of the chaotic mass of Railway Bills now presented to their notice. There is no change of importance in the French or Foreign Railway Shares. With the appearance of an amicable adjustment of our dispute with the United States, which the last intelligence from New York affords, an improved tone has been given to this market; but the transactions are few, with but little appear- ance of reviving speculation.


in the absence of any further purchases by the Chancery-broker on account of the Railway deposits, the market is in a quiescent state; and the prices both of Stock and Exchequer Bills are nearly as yesterday. The Share-market is firmer; the transactions as yet have been unimportant, as will be seen by the following meagre details of bargains occurring: Direct Northern, 21 1; Great Western, Quarter Shares, 20; Birmingham, 2281; Midland, 154; South Midland 2/ pre- mium; Trent Valley, 214

• Sarum:km Two o'CLocx.

The day has passed without any Chancery purchases, and lacking the usual support. The prices of the English Funds were at one time about 1 per cent below the opening quotations: some buying has, however, since occurred, and the market has rallied again; the closing price of Consols for Account being 97h1. The premium of Exchequer Bills has been all day supported at 37 to AO.

161 174 87 89 60 95 301 14 17 IS

59 61


112 114 271 84 384 9

The Railway Sham Market is firmer for the better class of Shares. Shortly after the commencement of businees, some inquiry occurred for several varieties of new Scrip, especially for that of some of the -Irish lines; but this appearance of business was not of long duration. The tone of the market for this description of Shares, has, however improved. The chief feature in the Foreign Share Market has been a demand for the two varieties of Bourdeaux, Toulouse, and Cette Shares; 1,000 Shares of litKelizie's Company were bought at 4 premium, and transactions have occurred in Espelete's at 5-16 premium. The purchases were understood to be on Foreign account; and it is said that an arrangement is in progress by which these two companies will secure a preponderating proportion of the Shares of whatever Company may ultimately succeed in obtaining the con-


. 25 Birmingham & Gloucester, New, issued at 74 dl • 100 Bristol and Exeter Paid.

174 70 Business done. 32 90 331 Bristol and Exeter. New

2 124

50 Direct Manchester (Remington's).

21 11

Average Eastern -Counties.

14 16 221 1 4 50 Great Western, Half-shares

50 94

Stock London and Birmingham

100 2284 30 CO London and Brighton— • •-• - • • ...... - -•-• • • • • • 50 691

Average London and Croydon

13.15.9 221

Average London and Greenwich

12.15 10

Average London and South-western

41-6.10 804 80 50 London rind York 40 Manchester and Birmingham

Stock Midland

50 North Kent and Dover Direct 24 40 100 24

34 I 791 9 154 2 24 Average South-eastern and Dover

32.8.4 391


20 Boulogne and Amiens 8 121

SO Bordeaux, Toulouse, and Cette (Mackenzie's)

2 212

20 Bordeaux, Toulouse, and Cette (Espelete's)

2 24 20 Dutel-Rhenish 5 7!

• 20 Great Northern of France, Constituted 5 1514 20 Lyons and Avignon 2 24


Shortly after the dose of the Market, (two o'clock,) the Chancery broker purchased 90,0001. Consols: an improvement of 4 per cent has been the conse- quence, and Consols for Account are now 971 4. 3 per Cent Consols........

974 Colombian ex Venezuela • • •

Ditto for Account

974 4 Dturish 3 per Cents 3 per Cent Iteduced

971 4 Dutch 21 per Cents..

SI per Cents

991 100 Ditto 4 per Cents Long Annuities

104 Mexican 5 per Cents.

Bank Stock

208 10 Ditto Deferred Exchequer Bills Prem. 37 40 PortugueseNew5 p. Cts. 1841 India Stock ..

258 Ditto 4 per Cents 1845 Prem.

Brazilian 5 per Cents

81 3 Russian 5 per Cents . ex div Belgian 44 per Cents

95 7 Spanish (Active) 5 per Cents , Chnian 6 per Cents

98 100 Ditto 3 per Cents 1842

struction of the line.